Gen Z and millennials are on the radar of every brand these days as they are the largest generation with an annual spending power of 3 trillion dollars. They are a group of smart individuals who can make their own decisions, care for the planet, speak up for their rights, and use the power of social media to control and know what is happening around the globe. Since these age group buyers have a short attention span, it is even more challenging for jewelry brands and retailers to hold on to their attention. Thus, they are always seeking solutions that can lure them in and display their collections. The online jewelry design software offers customization solutions that enable brands to attract their young buyers and give them the opportunity to design their ornaments. The tool also comes with digital solutions so that they can preview the jewelry as they customize it before heading for the final payment gateways. The software offers a win-win situation for buyers and brands as the customer has control over what and how ornaments should be designed, and brands can stand tall in the market as their designs will be unique and help expand their market base.
Jewelry Design Software Offers Solutions to Lure in More Young Buyers
Today's fashion-forward buyers can purchase their favorite product from various channels after watching it on the line platform, sales options, or seeing someone wear it. This indicates that people can learn about new trends and collections through various podiums. It is absolutely necessary for brands to continuously share their values and introduce their new lines and styles. This sudden rise and constant interaction between brands and buyers have reshaped purchasing behavior. Additionally, brands need to keep up with the latest fashion trend, adhere to the evolving s-hopping patterns, and implement novel solutions. And since fashion in its true sense is all about being creative and being a forward-thinking industry, it should adopt solutions that any other sector has never used. With consumers are the big piece of this strategy and hence need to be given due importance, and brands must walk an extra mile to ensure their buyers are content and satisfied.
The current blog will explain various factors and pointers that brands and retailers should consider while revamping their business model. Let us have a look at them:
1. Capitalizing on Digital Technology
In the digital era, neglecting or running away from technology will only cause a downfall for any brand, and therefore, they need to implement a marketing strategy that perfectly blends traditional business strategies, such as fashion blogs and also use virtual platforms, such as Instagram. In the age where TikTok and other social commerce mediums, including social fashion influencers, have taken, they have to put themselves out in the market smartly. For instance, when Y2K came back on TikTok, brands have to capture their Gen Z buyers' attention in about eight seconds, and millennials needed to get the work done in about twelve seconds. These figures indicate how tricky the fashion market and captivating modern customers' attention has become. As brands have limited time to impress their buyers, they need first to understand their buyers' habits and priorities. And to help understand your buyers, you must get in touch or hire a social influencer. As these are the people who are the closest to your customers, and consumers will only follow what their idol tells them to do.
However, mere hiring an influencer doesn't mean you have done the job, the first step is to accept the need of influencers, and the second biggest work is to find the right influencer. Here, the perfect need to hunt an influencer doesn't necessarily limit their role in selling your products; it is more about expressing themselves with them. And with the rise in digital technology, the dependence on social influencers is also increasing as it allows them to express their style, personality, and beliefs. Therefore, when a brand hires an influencer, they must ensure that the influencer is aligned with the brand value and audience. Besides, choosing influencers shouldn't be about the maximum number of followers; it is more about engaging with the audience and speaking authentically about the brand. One good way to make sure an influencer is a good fit is to look at their audience demographic to see if it matches that of your target customers. For example, according to Upfluence's report on influencer marketing in the fashion industry, the average high-street fashion influencer's audience is 69 per cent female, and 39 per cent of their followers are aged between 25-34. Taking a closer look to see if an influencer's audience is made of 'real' followers (and not bots) and making sure their audience will be genuinely interested in content about your brand is key to building effective influencer partnerships. Doing this due diligence up-front is a win-win for both brands and influencers.
2. Understanding Customers' Needs
These buyers have become more aware of the social evil practices that have been transferred to us from generations. With the knowledge that they get from various sources, such as the internet, they understand how the world should have been and what needs to be done to ensure that happen. The recent meltdown for the young buyers started with the #BlackLivesMatter movement, where everyone came together and protested about the harassment we have been causing to most people, including people of color, gender differences, body images, etc. The young buyers are now challenging these bad societal norms, and they are using social media as a platform to tarnish and bring down someone's reputation that has been harboring these beliefs. For instance, the buyers find the gendered language extremely off-putting. According to research done on grasping modern buyers' minds, it was revealed that Gen Z prioritizes individualism and goes against the grain. 56 per cent do not follow fashion trends, but almost all of them credit clothes with making them feel confident, while 87 per cent say they feel sexy in the right clothes. 79 per cent of Gen Z have no qualms about buying clothes marketed to the opposite gender, while 23 per cent think that traditional gender-focused language used by retailers is outdated and offensive.
Additionally, for 79 per cent of those surveyed, sustainability is of the utmost importance, and 67 per cent look for clothes that appeal to their social conscience. Brands that represent Gen Z's values will be rewarded with their dollars. One in four surveyed admit to not knowing where their clothes are manufactured, so more transparency regarding the supply chain will be a winning strategy for brands looking for a way into their good graces. Thirty-nine per cent accept buying pre-loved clothes as a way to be more sustainable, and they enjoy recycling because it is also more cost-effective. Gen Z expects their favorite online retailers to create genuine social media content which speaks to the environment and social justice. 85 per cent will research a brand online before committing to a purchase
These days consumers are moving to more inclusive, sustainable, ethical fashion brands that bring everyone on board and are true representatives of society. However, some brands have been trying to re-invent themselves in the modern world. However, it is challenging for them to evolve overnight. Therefore, our 3D jewelry design online offers customization solutions that allow each of your buyers to design an ornament that shows their true selves. Digital features installed in the tool allow customers to preview the product as they customize it and make the finest changes in the ornaments. It empowers every customer of yours to freely express themselves and their feelings but accessorizing themselves with unique and beautiful jewelry designs.
3. Forecasting the Future Sales and Shaping Consumer Behavior
The online marketplace is rising exponentially, and it is acting as one of the major catalysts to reshape consumers' behavior. However, it is also cautioning and helping brands, and retailers efficiently forecast future market trends based on past purchasing patterns. Forecasting helps companies provide customers with the products they want, but it also helps keep them ahead of any potential competition. Planning a stock inventory will enable jewelry brands and retailers to increase inventory on certain products before stock levels get too low during a sale and ensure hot-ticket products sell-through. This process keeps customers content and satisfied while preventing them from going over to rival brands for similar products. Moreover, accurate forecasting helps businesses to reduce financial risk and increase financial decision making.
Consider an example here where previous sales data indicate that new products take longer than expected to sell in larger volumes; brands are in a better position to choose to invest in less stock when launching a new product line. Planning before-hand helps eCommerce houses to strategize pricing and also anticipate what products can be in demand. However, one of the main areas that forecasting can greatly benefit fashion companies is inventory and warehousing expenses.
4. Optimizing Product Content
As discussed above, selling products and making them more desirable in this digital era helps them score more. They should consider product optimization that will increase organic traffic to the products through search result optimization and provide consumers with the information they need to make an educated decision. For instance, Amazon provides accurate "item type keyword" for each of the products while ensuring they are being categorized accurately. The list of ITKs can be found through Amazon's "Browse Tree guides". This will help consumers who are browsing by category to find the products.
Similarly, you can also provide a list of search terms that will help you to drive traffic items. This would be the best strategy to gain traction from young buyers as they are always on their mobile phones and searching for something on the internet. Having specific keywords found in the listing can help improve your google search rank and help you make more revenue. Many experts believe that the key to optimizing how customers shop online is to let them learn and experiment with your product line. The more they search and form various combinations, the better for brands as they have more keywords to align their product line with. It also gives them a feel of in-store shopping, which is an added benefit for the brand. By informing the customer with optimized product listings, brands equip them with the details to make a purchasing decision. It is crucial to realize that it is not a one-size-fits-all policy, so each product and marketplace will have specific standards. Therefore, brands need to tailor their data according to each platform to raise the listings across category and keyword searches.
Wrapping Up-
These days jewelers have a problem as millennials, and Gen Z is refraining from buying anything that is sparkly, special-occasion pieces that dazzled their parents and grandparents decades ago. Brands and retailers need to rethink their store designs, display lower-priced collections, and enlist young buyers or influencers to catch their attention. Playing by traditional playbooks and romanticizing traditional jewels won't work with modern buyers. Brands should pull out all the stops, design products that customers can personalize and flaunt their ethical sourcing and sustainability. Making online and in-store shopping distinctive and hosting pop-up shops with limited-edition items can certainly help in boosting your sales.
If all this seems too much for you, install the online jewelry design software by iDesigniBuy. We offer the latest and relevant customization solutions to jewelry businesses. Our tool enables them to entice the young population and let them make decisions on how they want to customize their ornaments. We shall ensure that you take your business to new heights and check all the boxes that millennials and gen z have in mind and make a way in their hearts and minds.
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